10/30/2025
‼️ Yesterday, the Bank of Canada lowered its policy interest rate to 2.25%
But what does this actually mean for current and prospective homeowners??
The Bank of Canada sets the target policy interest rate used by Canada's banks to set their prime rates. This means that that reduction will lower the prime rates at Canada's largest lenders, and those savings will then be passed on to consumers who are either starting a new mortgage, currently on a variable-rate mortgage, or are looking to refinance within the next 3 months (with another rate decision planned for December 10).
A 0.25% cut doesn't seem like much, but for many people right now, lower rates could be the only thing holding them back from their dream home.
For commercial clients and businesses, this is also a positive signal for the Canadian economy, and it will likely have a positive effect on the cost of debt financing for new projects.
This is the second consecutive rate cut and, as we look to finish off 2025 strong, this is music to my ears.
👉 So, if this news has you thinking that it's time to move on that dream property you had in mind — send me an email to [email protected] or text me at 613-791-7379 and let's get started today!
| Royal LePage Performance Realty, Royal LePage Commercial Real Estate, Royal LePage Canada, Ottawa Real Estate Board, OREA, The Canadian Real Estate Association/L'Association canadienne de l'immeuble, Toronto Regional Real Estate Board, Ottawa Board of Trade, Greater Ottawa Home Builders' Association
The Bank of Canada has cut rates for the second consecutive time bringing the overnight rate to 2.25 per cent.